Chinese train maker's IPO back on track
China South Locomotive kicks off the A-share portion of its offering today after a belated approval from the Chinese regulator. The H-share tranche will follow on August 4.
Just as investors thought they would have to wait another month for China South Locomotive Rolling StockÆs CSR initial public offering, the Chinese securities regulator came through with the final approval that enables the near-simultaneous A- and H-share offering to go ahead. The combined deal could raise as much as $2 billion.
Wasting no time, the company said in an announcement posted on the Shanghai Stock Exchange SSE website yesterday that it will start the three-day price discovery process and...
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